An interest in real estate is best defined as ownership of
one or more of the bundle of rights to real property.
Encumbrances and police powers are
interests that do not include possession.
What distinguishes a freehold estate from a leasehold estate?
A leasehold endures only for a specific period of time.
The highest form of ownership interest one can
acquire in real estate is the
absolute fee simple estate.
The distinguishing feature of a defeasible fee simple
estate is that
the estate may revert to a grantor or heirs if the prescribed use changes.